JPMorgan Chase & Co. Reiterates “Buy” Rating for AstraZeneca (NYSE:AZN)

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AstraZeneca (NYSE:AZN)‘s stock had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued on Friday, Stock Target Advisor reports.

A number of other analysts have also recently commented on the stock. Liberum Capital upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. HSBC reiterated a “sell” rating on shares of AstraZeneca in a research note on Thursday, October 17th. Citigroup reiterated a “buy” rating on shares of AstraZeneca in a research note on Tuesday, October 29th. Goldman Sachs Group reiterated a “sell” rating on shares of AstraZeneca in a research note on Thursday, October 24th. Finally, Shore Capital reiterated a “buy” rating on shares of AstraZeneca in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. AstraZeneca presently has a consensus rating of “Hold” and a consensus target price of $46.53.

Shares of NYSE:AZN traded up $0.46 during trading on Friday, reaching $47.26. The stock had a trading volume of 5,329,322 shares, compared to its average volume of 4,158,044. AstraZeneca has a one year low of $35.30 and a one year high of $49.22. The company has a market capitalization of $122.79 billion, a P/E ratio of 27.32, a PEG ratio of 1.53 and a beta of 0.48. The company has a current ratio of 0.92, a quick ratio of 0.70 and a debt-to-equity ratio of 1.29. The firm’s 50-day simple moving average is $45.32 and its 200 day simple moving average is $42.22.

AstraZeneca (NYSE:AZN) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. AstraZeneca had a net margin of 8.42% and a return on equity of 38.63%. The business had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.07 billion. During the same period last year, the business earned $0.71 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that AstraZeneca will post 1.81 earnings per share for the current fiscal year.

In related news, major shareholder Plc Astrazeneca bought 425,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was bought at an average cost of $19.00 per share, for a total transaction of $8,075,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in AstraZeneca during the 2nd quarter worth approximately $366,000. Allianz Asset Management GmbH raised its position in AstraZeneca by 12.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 509,605 shares of the company’s stock worth $21,037,000 after buying an additional 55,273 shares during the last quarter. Greenleaf Trust raised its position in AstraZeneca by 2.4% during the 2nd quarter. Greenleaf Trust now owns 22,103 shares of the company’s stock worth $912,000 after buying an additional 527 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in AstraZeneca by 9.7% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 8,458 shares of the company’s stock worth $376,000 after buying an additional 750 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in AstraZeneca by 8.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 137,225 shares of the company’s stock worth $5,664,000 after buying an additional 10,933 shares during the last quarter. 17.54% of the stock is owned by institutional investors.

AstraZeneca Company Profile

AstraZeneca PLC discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

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Analyst Recommendations for AstraZeneca (NYSE:AZN)

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